Kyber Network / US Dollar Cryptocurrency Forecast

Kyber Network / US Dollar cryptocurrency upgraded to Hold/Accumulate.
(Updated on May 13, 2024)

KNCUSD Signals & Forecast

A buy signal was issued from a pivot bottom point on Sunday, April 14, 2024, and so far it has risen 6.38%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Kyber Network / US Dollar cryptocurrency holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.586 and $0.608. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this cryptocurrency may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Kyber Network / US Dollar cryptocurrency

Kyber Network / US Dollar finds support from accumulated volume at $0.556 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This cryptocurrency has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the cryptocurrency moved $0.0039 between high and low, or 0.691%. For the last week the cryptocurrency has had daily average volatility of 2.75%.

Our recommended stop-loss: $0.537 (-4.99%) (This cryptocurrency has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 29 days ago.)

Trading Expectations (KNCUSD) For The Upcoming Trading Day Of Tuesday 14th

For the upcoming trading day on Tuesday, 14th we expect Kyber Network / US Dollar to open at $0.566, and during the day (based on 14 day Average True Range), to move between $0.529 and $0.602, which gives a possible trading interval of +/-$0.0368 (+/-6.51%) up or down from last closing price. If Kyber Network / US Dollar takes out the full calculated possible swing range there will be an estimated 13.03% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.571 (0.87%) than the support at $0.556 (1.66%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Kyber Network / US Dollar cryptocurrency A Buy?

Kyber Network / US Dollar holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.645 Hold/Accumulate Upgraded

Predicted Opening Price for Kyber Network / US Dollar of Tuesday, May 14, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.